Renewed agreement gives Pfizer the option to obtain exclusive, worldwide rights for resulting compounds until May 2009.
NicOx and Pfizer agreed to a one-year extension of a March 2006 ophthalmology collaboration. Pfizer thus will continue to have exclusively rights to apply NicOx’ nitric oxide-donating technology to drug discovery research in the field of ophthalmology.
NicOx will receive €3 million in research funding in March 2008. Additionally, Pfizer now has the option to obtain an exclusive, worldwide license to develop and commercialize compounds resulting from the research program until May 2009.
The agreement provides for total potential milestone payments in excess of €300 million. This amount includes €102 million that would arise from the successful development and launch of the first compound.
Encouraging results have been observed for various compounds in in vitro and in vivo preclinical models of a prevalent eye disease, according to the firms.